Customary Pricing
There are various types of pricing strategies followed in the market. They are psychological pricing, odd pricing, free onboard pricing, customary pricing, prestige pricing, dual pricing, ruling pricing, negotiated pricing, mark up pricing, etc. each one can be explained as follows:
Multiple Unit Pricing
“Multiple-unit pricing is a practice where a company offers consumers a lower than unit price if a specified number of units are purchased.”
(a) What is segmented pricing?
(b) Briefly describe the different types of segmented pricing.
When a seller or a company sets different prices—two or more—for the same product, this is called segmented pricing.Even if a product has different prices, they have no effect on the different prices set by businesses.Price discrimination is another name for segmented pricing.If there is market segmentation, or if each segment's perceived value of the product is comparable to the prices set for them, or if segments have "different degree of demand," then segmented pricing is more effective.
Segmented pricing is also a wise strategy when customers rarely purchase a product or use a service.Coupons can be used to implement segmented pricing.Customers who don't pay attention to the price won't use the coupons, so the price of the product will be higher.However, customers who make an effort and use a coupon are more price-sensitive.
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